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☆ This $1,400 luggage is the hottest quiet status symbol for celebrities and wealthy travelers. The more beat up it looks, the better.
▼ + stars: | 2024-09-18 | by ( Brittany Chang | ) www.businessinsider.com time to read: +10 min

If you don't recognize the brand's name, you might know its iconic grooved aluminum luggage. LVMH acquired the now-126-year-old German company in 2016Hugues Bonnet-Masimbert, CEO of Rimowa, told BI that the company's buyers are split evenly between male and female. Brittany Chang/Business InsiderRimowa gave rise to two of the largest hard-shelled luggage trends when it debuted its aluminum luggage in the 1920s and its polycarbonate options eighty years later. (Hugues Bonnet-Masimbert, CEO of Rimowa, told BI that the company is constantly monitoring and improving its quality.) Brittany Chang/Business InsiderJust don't bring your luggage in for repairs when it inevitably gets scuffed up.

Persons: —, John Baptist's, he's, Martha Stewart, Rodger Federer, Billie Eilish, Baptist, John Baptist It's, LVMH, Hugues Bonnet, Brittany Chang, Louis Vuitton, Tiffany, Bernard Arnault's, Rimowa, they've, Tania Antonenkova, Tania Antonenkova Tania Antonenkova, Birkin, she's, Antonenkova, Carter Smith, Smith, doesn't, Haines, Masimbert, Vanessa Garoute, Garoute, Vanessa Garoute Garoute, — she's, you'll, Jane Birkinifying Organizations: Service, Business, York City Locations: Los Angeles, China, Europe, Asia, North America, Germany, Miami, Vegas, France, Rimowa's, York

☆ Fed Chair Powell: We're not declaring victory over inflation with 50 bps rate cut
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We're not declaring victory over inflation with 50 bps rate cutFederal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, We're, Jerome Powell Organizations: Central Bank

☆ Fed Chair Powell on additional rate cuts: We're making decisions 'meeting by meeting'
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell on additional rate cuts: We're making decisions 'meeting by meeting'Federal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ Jim Cramer says Salesforce's collaboration with Nvidia should not be overlooked
▼ + stars: | 2024-09-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer urged people to be patient once the Fed's decision arrives at 2 p.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Jerome Powell's, Jim, Salesforce, Agentforce, Mark Benioff, Brian Niccol, General Mills, Jim Cramer's Organizations: CNBC, Nvidia, Bank of America, Starbucks, VF Corp, Resmed, Marriott International, Alaska Air Locations: China

☆ Watch CNBC's full interview with Carlyle CEO Harvey Schwartz
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Carlyle CEO Harvey SchwartzCNBC’s Leslie Picker and Carlyle CEO Harvey Schwartz join 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, central bank's monetary policy, rate path outlook, state of private equity, Carlyle's private credit strategy, and more.

Persons: Carlyle, Harvey Schwartz, Leslie Picker

☆ Fed Chair Powell: Housing inflation is the one area that is 'dragging a bit'
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: Housing inflation is the one area that is 'dragging a bit'Federal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ The Fed’s long-awaited rate cut is colliding with presidential politics
▼ + stars: | 2024-09-18 | by ( Kayla Tausche | ) edition.cnn.com time to read: +7 min

Vice President Kamala Harris called the rate cut “welcome news,” while former President Donald Trump suggested, without evidence, that the decision could be politically motivated. With less than 50 days until Election Day, another question has emerged: Will the rate cut matter to voters? In fact, they already have – mortgages are based on bond yields, which have fallen in recent weeks in anticipation of a rate cut. Harris responded to the rate cut by saying she’s focused on bringing down prices. This story has been updated with reaction to the Fed’s rate cut announcement.

Persons: Biden, Joe Biden, Ukraine —, ’, —, “, ” Biden, Kamala Harris, ”, Donald Trump, Zoila Sanchez, CNN’s John King, ” Sanchez, King, ” Homebuyers, Powell, Jason Furman, Barack Obama’s, “ It’s, ” Furman, George H, Bush, Bill Clinton’s “, –, Clinton, Aaron Klein, ” Klein, Harris, she’s, Trump, they’re, ” Trump, Steve Moore, Powell sanctimoniously, ” Moore, ” Powell, Moore Organizations: CNN, Reserve, White House, Economic, of Washington, Financial, St, Louis Federal Reserve, Brookings Institution, “, Biden, Fed, SPAN Locations: trillions, Ukraine, Nevada, New York

Mortgage rates have dropped substantially in recent weeks, with 30-year rates now almost 40 basis points down from where they started the month. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates have gone down this week and are now hovering below 5.60%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Because markets are already anticipating that the Fed will lower rates, mortgage rates might not drop much in response to a Fed rate cut.

Persons: it's, refinance, you'll, Freddie Mac Organizations: Federal Reserve, Zillow, Fed Locations: Chevron

☆ America is ready to go big on AI infrastructure
▼ + stars: | 2024-09-18 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful. Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth. It will also fund the energy infrastructure needed to power them. AdvertisementData centers, chip manufacturing plants, and energy supply are all vital for making AI tick. AdvertisementThe headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.

Persons: —, MGX, Brad Smith, Lindsey Wasson, TSMC, Justin Sullivan, Getty, CBRE, Nvidia's Jensen Huang, Sam Altman, Gina Raimondo Organizations: Service, Microsoft, BlackRock, Business, Global Infrastructure Partners, REUTERS, US, Nvidia, Congress, Financial Times, Big Tech Locations: Taiwan, China, United States, Abu Dhabi, Chicago, Northern Virginia, Washington

☆ Former Fed Vice Chair Richard Clarida: Sticking with our call of a 25 basis point cut today
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed Vice Chair Richard Clarida: Sticking with our call of a 25 basis point cut todayRichard Clarida, PIMCO global economic advisor and former Federal Research Vice Chairman, joins 'Squawk Box' to discuss the Fed's policy meeting this week, what to expect from the central bank's interest rate decision today, state of the economy, and more.

Persons: Richard Clarida Organizations: Former, Federal Research

☆ Carlyle CEO Harvey Schwartz on the Fed, state of private equity and economic outlook
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarlyle CEO Harvey Schwartz on the Fed, state of private equity and economic outlookCNBC’s Leslie Picker and Carlyle CEO Harvey Schwartz join 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, central bank's monetary policy, rate path outlook, state of private equity, Carlyle's private credit strategy, and more.

Persons: Carlyle, Harvey Schwartz, Leslie Picker

☆ Fed Chair Powell: We do our work to serve all Americans, not politicians or political figures
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell: We do our work to serve all Americans, not politicians or political figuresFederal Reserve Chair Jerome Powell takes questions from reporters after announcing that the Central Bank has lowered interest rates by half a point, its first cut since 2020.

Persons: Powell, Jerome Powell Organizations: Central Bank

☆ The North American airports that travelers find the most – and least – satisfying
▼ + stars: | 2024-09-18 | by ( Marnie Hunter | ) edition.cnn.com time to read: +7 min

And many North American air travelers are still enjoying their time at airports, according to the overall satisfaction scores in the 2024 North America Airport Satisfaction Study from J.D. In the large airport category, with 10 to 32.9 million passengers per year, John Wayne Airport in Orange County, California, is this year’s top scorer, followed by Tampa International Airport and Kansas City International Airport. Indianapolis International Airport ranks highest among medium airports with 4.5 to 9.9 million passengers per year, followed by Jacksonville International Airport and Southwest Florida International Airport. “The Airtrain isn’t complete and that makes accessing the terminals difficult.”Philadelphia International Airport ranks lowest in the large airport category. Matt Slocum/APIn the large airport category, Philadelphia International Airport ranks lowest.

☆ I added my divorce to my LinkedIn profile — here's why
▼ + stars: | 2024-09-18 | by ( Karl Dunn | ) www.businessinsider.com time to read: +6 min

My divorce was the worst job I've ever had. So, like any job I've had, I decided to put my divorce on my LinkedIn résumé. I added my divorce to my LinkedIn 2 weeks agoDivorce hits different people differently. When I had the idea to put my divorce on my LinkedIn, I debated it for weeks. AdvertisementSo while divorce was the worst job I ever had, it was also one of my greatest teachers, which is why I put it on my CV.

Persons: —, I've, That's, couldn't, doesn't, who's, I'd, Karl Dunn Organizations: Service, Business, Hearst Publications, LinkedIn Locations: America, California, Berlin, Los Angeles

☆ GM's EV drivers are finally getting access to the Tesla Supercharger network
▼ + stars: | 2024-09-18 | by ( Nora Naughton | ) www.businessinsider.com time to read: +1 min

GM is the latest company to get access to Tesla's Superchargers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGeneral Motors is the latest car company to grant its drivers access to Tesla's vast Supercharger network. This is the latest move by GM to improve charging access for its EV customers. With the addition of the Supercharger network, GM drivers can now charge at more than 231,800 Level 2 and DC fast chargers across North America, according to the Detroit-based automaker.

Persons: Superchargers, Tesla's, — Organizations: Service, GM, Chevrolet, Cadillac, EV, Business Locations: North America, Detroit

☆ University of Tennessee to raise season ticket prices 10% in anticipation of revenue sharing
▼ + stars: | 2024-09-18 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

The University of Tennessee is raising its season ticket prices by 10% across all its sports to prepare for athletes to start to get a cut of the school's sports revenue, according to an email sent to football season ticket holders on Tuesday. Tennessee is calling its hike a "talent fee," and said it "will help fund the proposed revenue share for our student-athletes," according to the email. Athletic departments have been gearing up for revenue sharing after a proposed settlement involving three cases the NCAA is named in. "As the collegiate model changes, we have to remain flexible," Tennessee Athletic Director Danny White said in a video included in the email. Star athletes have been able to sign big endorsement deals, but universities have not started direct revenue sharing, which would benefit more student-athletes.

Persons: Nico Iamaleava, Danny White Organizations: Tennessee Volunteers, Duke's Mayo, NC State Wolfpack, Bank of America, The University of Tennessee, Athletic, NCAA, Power, Tennessee Athletic, College, Star Locations: Charlotte , North Carolina, . Tennessee, Tennessee, Sportico's

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Meta, Marriott, Starbucks, Roku & more
▼ + stars: | 2024-09-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Stifel initiates Penumbra as buy Stifel said it's bullish on shares of the medical device company. Bank of America reiterates FedEx as buy Bank of America lowered its price target to $345 per share from $347 but said it's bullish heading into earnings next week. " Bank of America reiterates TJX Companies, Burlington and Ross as buy Bank of America said the off-price retailers are best positioned for younger generations. Bank of America reiterates Starbucks as buy The firm said it's standing by shares of the coffee giant. Bank of America reiterates Alphabet, Meta, Amazon and Uber as buy Bank of America said the internet tech companies are the best way for "more defensive positioning."

Persons: Stifel, it's, Bernstein, Apple, Morgan Stanley, Tesla, BTIG, JPMorgan, Wells, Wolfe, Ross, ROST, Goldman Sachs, Goldman, Needham, Uber, William Blair Organizations: PEN, HSBC, KKR, Co, Apple, Bank of America, FedEx, GE Healthcare, UBS, Talen Energy, JPMorgan, Civitas Resources, Micron, MU, Barclays, TJX Companies, BURL, Marriott, Computer, Guggenheim, Sirius XM, " Bank of America, Google, Nvidia, Broadcom Locations: China, Burlington, InfiniBand

☆ Stock market today: Indexes edge up ahead of major Fed interest rate decision
▼ + stars: | 2024-09-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

US indexes edged higher as investors waited for a likely interest rate cut from the Fed. AdvertisementUS stocks rose on Wednesday as traders readied for what's likely to be the Federal Reserves's first rate cut in four years. "Though consensus is leaning toward a 50 basis point move, we look for the Fed to cut by 25 basis points today. AdvertisementFollowing the interest rate decision, all eyes will be on Fed Chair Jerome Powell, who will deliver prepared remarks during a press conference. "While the market has usually bounced immediately following the 2 PM rate decision, the sell-off usually starts at or near the end of Powell's post-FOMC press conference."

Persons: Jerome Powell's, —, John Lynch, José Torres, Jerome Powell, Powell, shouldn't Organizations: Fed, Traders, Service, Federal, Comerica Wealth Management, Interactive, Deutsche Bank, Investment

☆ Gold has rallied ahead of Fed rate cuts. Here's why there could still be more upside
▼ + stars: | 2024-09-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Gold is already near the top of the 2024 range of outcomes projected by BlackRock Investment Institute, for example. Emerging market central banks have about 6% of their FX reserves in gold, and developed markets have about 12%. "Weaponizing dollar-based systems, including SWIFT , has led to more people, more countries specifically — more sovereign wealth funds and central banks — not trusting dollar-based assets as much. ETF flows As central banks have been bidding up gold, smaller investors were selling for much of this year. The VanEck Merk Gold ETF (OUNZ) and the Abrdn Physical Gold Shares ETF (SGOL) are the other funds with at least $100 million in net inflows this year, according to FactSet.

Persons: there's, Robert Minter, Minter, SWIFT, Lauren Goodwin, we're, Chris Verrone Organizations: Federal, Nasdaq, BlackRock Investment Institute, Abrdn, World Gold Council, U.S ., FX, United, Russia, New York Life Investments, MiniShares, Federal Reserve Locations: U.S, Abrdn . Central, Central, United States, Ukraine

And yet an unusual air of uncertainty overhangs this week's meeting: It’s unclear just how large the Fed’s rate cut will be. Wall Street traders and some economists foresee a growing likelihood that the central bank will announce a larger-than-usual half-point cut. Many analysts foresee a more typical quarter-point rate cut. This week's move is expected to be only the first in a series of Fed rate cuts that will extend into 2025. Over time, Fed rate cuts should lower borrowing costs for mortgages, auto loans and credit cards, as well as for business loans.

Persons: Donald Trump's, Kamala Harris, Jerome Powell, —, Powell, Jackson, Freddie Mac Organizations: WASHINGTON, —, Federal Reserve, Wall Street, Companies, Associated Press Locations: Jackson Hole , Wyoming

☆ JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns
▼ + stars: | 2024-09-18 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

JPMorgan Chase has created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street to examine how it treats its youngest employees. The firm named Ryland McClendon its global investment banking associate and analyst leader in a memo sent this month, CNBC has learned. The move shows how JPMorgan, the biggest American investment bank by revenue, is responding to the latest untimely death on Wall Street. Later that month, JPMorgan CEO Jamie Dimon said his bank was examining what it could learn from the tragedy. Exceptions can be made for live deals, said the person, who declined to be identified speaking about the internal policy.

Persons: Jamie, JPMorgan Chase, Wall, Ryland McClendon, McClendon, Bank of America's Leo Lukenas III, Jamie Dimon, JPMorgan's Organizations: JPMorgan Chase, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Washington , D.C, JPMorgan, Bank of America, CNBC, Associates, Bank of America's Locations: Washington ,

☆ Where the tech trade could head now that the Fed is cutting
▼ + stars: | 2024-09-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Markets are gearing up for a long-awaited rate cut from the central bank Wednesday after more than two years of aggressive hiking to stem the spread of sticky inflation. Apple has been another big winner following a rate cut, rising a median of 16.2% in the past. To be sure, not every technology stock is destined for upside in the face of a cutting cycle. The stock has fallen a median of nearly 14% in the three months following an initial cut. Other potential losers following a rate cut include Analog Devices , Teradyne and IBM .

Persons: bode Organizations: Federal, Nasdaq, CNBC, Digital, Apple, Apple Intelligence, Nvidia, Micron Technology, Micron, Devices, IBM

☆ Forget Nvidia? These 2 little-known chip stocks have over 100% upside, Jefferies says
▼ + stars: | 2024-09-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

However, investment bank Jefferies is drawing attention to two lesser-known chip stocks that it believes could rise by more than 100%: Aixtron and Ams OSRAM . Looking ahead, analysts at Jefferies pointed to the ongoing recovery in the semiconductor industry, with global chip sales growth accelerating to 18.7% year-over-year in July. Jefferies expects shares of Aixtron to rise by 115% to 35 euros ($38.80) a share over the next 12 months. The stock is also traded in the U.S. AIXXF 1Y line Ams OSRAM Ams OSRAM , an Austrian-German semiconductor company, recently completed the issuance of 200 million euros ($222.73 million) in senior notes, yielding 10.5% in coupon payments to replace other short-term debt due in 2024. The analysts expect shares of Ams OSRAM, listed on the Swiss stock exchange, to rise 179% over the next 12 months to 2.4 Swiss francs ($2.83).

Persons: TSMC, Jensen Huang, Blackwell, Goldman Sachs, Huang, Jefferies, Janardan Menon, Infineon, Aixtron Organizations: Nvidia, ASML, Jefferies, Ams OSRAM, The SOX Semiconductor, Nvidia's, Infineon, IFX, HVP, Ams Locations: Germany, Infineon, Aixtron, U.S, Austrian

☆ I lived and traveled abroad for 7 months using credit-card points. My stash of miles meant I barely had to pay anything out of pocket.
▼ + stars: | 2024-09-18 | by ( Anny Caba | ) www.businessinsider.com time to read: +5 min

Read previewThe idea to move from New Jersey to Buenos Aires came to me one afternoon while watching the Diego Maradona (famed Argentine soccer player) biopic series on Amazon Prime. Within a year, I had enough to book a one-way United flight to Buenos Aires for 33,000 miles (plus $5 in taxes). AdvertisementMy points took me all around Argentina — and into other South American countriesMy home base for the next seven months was Buenos Aires in Argentina. One of the highlights of my seven months abroad was celebrating Argentina's World Cup win at the Obelisco Buenos Aires and chanting the national song alongside 5 million local fans. They don't pay for everything, but they make massive undertakings (like moving abroad for seven months) more seamless than ever before.

Persons: —, Diego Maradona, Anny, I've, El, São Paulo, Anny Caba, Mendoza Organizations: Service, Amazon Prime, Business, Venture, United Airlines, Argentina — Locations: New Jersey, Buenos Aires, Argentine, Dominican, Argentina, South America, Brazil, Chile, Bariloche, Iguazu, Mendoza, Ushuaia, Rio de Janeiro, Dominican American Spanish, Anny

☆ The Haitian Times covered the false claims targeting Springfield. Now it’s also facing attacks
▼ + stars: | 2024-09-18 | by ( Hadas Gold | ) edition.cnn.com time to read: +6 min

The Haitian Times, an online publication, has covered Haiti and the Haitian diaspora around the world since it was founded in 1999. Springfield, Ohio, was already on the Haitian Times’ radar well before the conspiracy theories began. The Haitian Times covered the comments aggressively — describing them as racist and false. The day after the debate, The Haitian Times published an article reporting that Haitian immigrant families in Ohio were “under attack” amid the intense swirl of false claims. Springfield’s city manager told the publication that it could not guarantee the safety of its staff, Haitian Times founder Garry Pierre-Pierre told CNN.

Persons: New York CNN — Macollvie Neel, “, ” Neel, Neel, Donald Trump, JD Vance, Vance, Trump, ”, swatting, “ It’s, Garry Pierre, Pierre, “ I’m, ” Pierre Organizations: New, New York CNN, Haitian Times, CNN, Nazi, Facebook Locations: New York, Ohio, Haiti, Haitian, United States, South Florida, Massachusetts, Springfield , Ohio, Springfield, Springfield’s

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